With economic uncertainty and soaring housing prices putting homeownership out of reach for many Americans, apartment living is on the rise. But if you’re a first-time renter, one often-overlooked aspect of apartment life may come as a surprise: the energy bill.
While you may expect to pay for electricity or gas usage inside your unit, you might not realize you could also be footing the bill for energy used elsewhere in the building.
“In apartment complexes, your energy costs may also include a share of the cost of heating and cooling common spaces, such as lobbies, hallways, fitness centers and recreational rooms,” said Timothy J. Harper, president and CEO of Nationwide Energy Partners, a Columbus-based company that specializes in energy management for multi-family communities. “You might not always be aware of it because it’s sometimes baked into your rent or utility bill and not called out separately.”
Harper advises that whether you’re apartment hunting or already settled in, it’s wise to ask a few key questions: Are utilities individually metered? Do you pay the energy provider directly or is it bundled into your rent? Does your building use a third-party service that also offers tools to monitor and reduce your usage?
“These details can help you understand what’s driving your energy costs,” Harper said. “Because after rent, utilities are typically your next biggest expense.”
While as a renter you may not have the authority to install new appliances or upgrade insulation, there are several simple strategies that can make a noticeable difference in monthly bills:
Adjust the Thermostat: If your unit allows it, slightly adjusting your thermostat – lower in winter, higher in summer – can significantly cut energy use. Portable fans or space heaters can sometimes be more efficient than relying solely on central systems, as long as they’re used safely.
Seal the Leaks: Older units can suffer from drafty windows and doors. Removable weather stripping and draft stoppers – available at most hardware stores – can provide inexpensive insulation and reduce heating or cooling loss.
Use Curtains Wisely: Blackout or thermal curtains can help regulate indoor temperature. Keep them closed on hot days to block out sun and open them during winter daylight hours to naturally warm your space.
Cut “Vampire” Power: Even turned-off electronics can drain power. Smart plugs allow you to cut electricity to devices like TVs, chargers and game consoles when they’re not in use.
Switch to LED Lighting: Energy-efficient LED bulbs use up to 80% less energy and last longer than traditional incandescent bulbs. They’re an easy upgrade with long-term savings.
Adopt Smart Appliance Habits: Run laundry machines during off-peak hours, typically late at night or early morning, if your building uses time-of-use pricing. Also, avoid overcrowding your refrigerator, which can reduce airflow and force it to use more energy.
Ask About Energy Audits: Some apartment communities offer energy audits that identify inefficiencies throughout the building that can be addressed to reduce waste, or third-party reports that provide historical data on average energy usage and cost by unit so people shopping for, or living in, those units know what’s typical.
“The key to saving on your apartment energy bill is understanding how your specific building operates and making small changes to optimize your personal energy use,” Harper said.
By staying informed and adopting energy-smart habits, you can stay comfortable in your rental unit without letting energy bills spiral out of control – an important step toward financial peace of mind in an increasingly pricey rental market.
(StatePoint)
PHOTO SOURCE: (c) Belkina Margarita / iStock via Getty Images Plus
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